Bankruptcy myths abound, and they can often give people the wrong idea about the process. It is time to break down at least one of those myths to show exactly why it does not hold up. The myth is simple: Bankruptcy is going to put everyone's credit score on an equal...
Worried that your credit score will drop after you file for bankruptcy? That is one of people's most common concerns, but do not worry that it has to last forever. There are plenty of things you can do to rebuild your credit. That's why people refer to bankruptcy as a...
You received the letter from the Internal Revenue Service that no one in the state of New York, or anywhere else for that matter, wants to get. You are being audited and now you have concerns about how to handle the situation and what you are going to do if you end up...
Chapter 13 bankruptcy gives you an affordable repayment plan that you can use for the next few years -- typically between three and five years -- to pay back what you owe. Some of your debt may be forgiven, but the goal is repayment instead of elimination. Chapter 7,...
You want to file bankruptcy alone, without your spouse, hoping to shield him or her from the impact as much as possible. Your debt may still impact your spouse. For one thing, if you have a joint credit card -- and many couples do -- then the creditors may be able to...
One of the prevailing myths about bankruptcy is that since you are going to eliminate your debt anyway, you might as well spend frivolously for a month or two before you file. For instance, perhaps you have a credit card with a $20,000 limit. You have $5,000 of debt...
